The New Shale Countries – PennEnergy Research

The shale gas and oil revolution has transformed North America’s energy mix, revitalizing its energy-intensive industries, reducing imports of oil, and offering the prospect of natural gas exports both to Europe and the lucrative markets of the Far East. Currently, North America and Canada are the only major producers of commercially viable natural gas and oil from shale formations. The US shale revolution has resulted from a mix of technological, regulatory, environmental and market factors – that have ultimately allowed firms to produce shale gas profitably. Knowledge of the geology and composition of shale formations outside North America is sparse, requiring extensive study and widespread well-drilling. Furthermore, it is not clear how much of the identified shale resource is economically recoverable. The desire to emulate North America’s shale experience stems from three “must haves”. This report looks at a “Baker’s dozen” of the most promising shale gas prospective countries, which could be significant in the next decade.